technology blog
19 April

Customer Retention in the Tech World

There is perhaps no better industry than the technology industry in retaining customers over long periods of time and sometimes even over an entire lifetime. You don’t even need to look in the direction of something like a web-based platform to see it – something as simple as the light bulbs you use to light up your home makes for a perfect example of lifetime customer retention in the tech world. Sure, light bulbs aren’t necessarily high-tech electronics, but perhaps they are if you were to take a closer look at one of those so-called extended lifetime bulbs because what you’d see inside is a little circuit board which would probably bring up questions around the suspected planned obsolescence we’ve been made wise to in many consumer products.

Switching focus to the “softer” side of the tech world in the form of digital platforms which charge some sort of fee for their access, something like a special VR Casino offer is classically used to make prospects wise to what lies in store for them, prompting them to take advantage of the special offer, after which time they’ll likely become regular users. Of course, we’re talking about online casinos in this specific instance, but the model is used in pretty much every digital platform and beyond.

The mentioned segments of the tech world, which admittedly make for a tiny, tiny portion of the greater tech industry, present consumers with somewhat of a choice though. This is because you can choose which light bulb manufacturer’s globes to buy, and you can choose which online casino platform to try your luck on. The variety might put many companies in a spot, especially when product offerings are in question, because there may be better alternatives to choose from. So, if yours is one such company that has to deal with such a circumstance, you ought to re-evaluate what you put out. One of the most important things to prioritise is customer satisfaction and customer experience because that is what will keep a consumer coming to you time and again. When your goods have an edge over your competitors, it is not solely because of convenient pricing, but because your products provide a certain convenience and fulfil a need better than others can.

It is more or less the same across all industries, customers like when they feel heard and valued. Even when it comes to stores like Spencer’s, buyers like to be able to easily contact Spencer’s customer help team if they are facing any issues or need expert assistance. The same applies to the tech world. Keep in mind that customer satisfaction is a crucial factor in promoting customer retention.

In many instances, however, we as consumers don’t have much of a choice when it comes to our retention as customers of the tech world. If you spend some mega bucks on a top-of-the-range gaming PC for example, its components are likely extremely specialised and custom-made, so your choice in expanding and upgrading your machine to perhaps improve performance is very limited.
This can most definitely make for a minefield for price-fixing and widespread consumer exploitation, but often the manufacturers enjoy large sales volumes and so they’re more than happy to bring prices down to what the market can generally take in its stride.

The components, though varied in features and prices, help bring in the numbers for revenue generated. The adequacy of quality, speed and capability of some of these machines tend to bring in the customer satisfaction necessary to build a strong consumer base. Many buyers often tend to leave reviews expressing their satisfaction, or the lack of it online, bringing in the need to remove negative google reviews at times. Nonetheless, these reviews could be a guide for you to choose the electronic devices that you want.

Things do tend to get a bit shady though and for the most part, consumers are limited by way of what they can do about it, but only because of our general need for instant gratification. I mean if you waited six months to get the latest iPhone for example, you’ll get it much cheaper than when it first comes out.

Either way, pretty much any piece of tech one acquires will have them patronising the manufacturers and their partners for a while to come yet, as a result of elements such as after-sales services, upgrades, system updates, compatibility and extensibility issues, etc.

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